Glacier FarmMedia COVID-19 & the Farm

Global Markets: Haitian president slain, wife wounded

Compiled by Glen Hallick, MarketsFarm

WINNIPEG, July 7 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Jovenel Moise, the President of Haiti, was assassinated in his home at approximately 1 am Wednesday by unidentified gunmen, according to reports. His wife was wounded in the attack. Accusations of involvement by the United States Drug Enforcement Agency have risen. The 53-year-old Moise was widely unpopular as Haiti struggles in the face of a growing humanitarian crisis and food shortages, along with rampant poverty that has led to political instability. In response to the assassination, several countries have closed their embassies in the capital of Port-au-Prince and the neighbouring Dominican Republic sealed off its border with Haiti.

– Amid concerns of a possible price war between the members of the OPEC+, shale oil producers in the U.S. were reported to be locking in prices for the next year. The alliance failed to reach an agreement to allow increased production, which includes a bitter dispute between one-time allies Saudi Arabia and the United Arab Emirates. The move by the shale companies is unlikely to result in increased production in the U.S., which propelled the country to being the world’s top oil producer.

– The Ever Given, the massive container ship that ran aground in the Suez Canal in March, was back on the move on Wednesday, making its way towards the Mediterranean Sea. The infamous ship blocked the vital transportation link for about a week. For the last three months the 1,300-foot vessel was held at Ismailia, as Egypt and the Ever Given’s owners negotiated a compensation agreement. Although terms of the deal weren’t announced, reports said Egypt demanded US$550 million.

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